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Croatia's Jadran Galenski Laboratorij more than triples EBITDA in H1

Author Annie Tsoneva
Croatia's Jadran Galenski Laboratorij more than triples EBITDA in H1 Photo: All Rights Reserved

ZAGREB (Croatia), August 19 (SeeNews) - Croatian pharmaceuticals producer Jadran Galenski Laboratorij [ZSE:3JDG2] said on Friday it consolidated EBITDA reached 100.4 million kuna ($13.4 million/13.4 million euro) in the first half of this year from 33.2 million kuna in the same period of last year.

The first-half pre-tax profit soared to 102.9 million kuna from 7.4 million kuna in the first six months of last year, the company said in a consolidated unaudited financial statement to the Zagreb bourse.

Its operating revenue rose to 555.6 million kuna from 412 million kuna in the period under review while its total revenue went up to 625.6 million kuna from 417.1 million kuna.

Sales revenue of its pharma unit increased 41% on the year to 440.4 million kuna as Russia remained its main market contributing 35% of its net sales, down by two percentage points compared to the same period of last year.

Founded in 1991, Jadran Galenski Laboratorij is one of the largest drug makers in Croatia, specialising in the production of sterile nose, eye and ear drop solutions. It operates in some 60 markets around the world. The group had 1,151 employees at the end of June.

The company's corporate bonds are traded on the Zagreb Stock Exchange.

(1 euro = 7.513 kuna)